Grupo Valorem

Sensibilidad: Publica

Grupo Valorem

April 2021

Corporate Presentation


Contents

1. Profile 1.1 History and background

1.2 Profile

1.3 Grupo Valorem’s diagram

2. Companies

2.1 Grupo Valorem’s significant figures

2.2 Main companies

3. Valorem’s Team

3.1 Organizational Chart


1. Profile

1.1 History and Background

1.2 Profile

1.3 Grupo Valorem’s Diagram


1.1 History and BackgroundValorem is the main investment vehicle of the Santo

Domingo family in Colombia

It has evolved over the years to focalize its investment

portfolio in the services industry

1997

Split of non-beer assets

Valores Bavaria

2008

Strategic Portfolio

Reorganization

2011

Desinvestment Stage

2009Admionistrative Reorganization/

Corporate Governance

2012

Capital Strenfthening of 14

companies

2015 D1 control

2018Delisting of securities

2004

Investment Investment

Investment

Sale Suppla y Biofilm 2019

Split of Valorem

and

transformation to

S.A.S


1.2 Profile

Current portfolio includes these sectors:

Media and Entertainment Retail Environmental Services Transport Hospitality Services Public Services

Valorem leads a business group that grows sustainably investing in companies in the services industry in order

to transform or escalate them with disruptive business models, leveraged on its talent and corporate reputation


Role as strategic architect through Corporate Projects

Technology transformation program (SAP)

Corporate GovernanceTalent management system

IFRS implementation

Corporate sustainability model

Strategic risk management model

Licensing, service and equipment

negotiations

Value-based management

Engagement and communications

Outstanding results management model

Strategic Architect

Shares management models and information

systems

Promotes corporate

negotiations

Shares customers/

channels

Promotes transfer of best practices

Corporate Projects


1.3 Grupo Valorem’s Diagram

20%*100%96% 99.99% 82% 100%*94% 60%

*Refers to direct and indirect participation


2. Companies


2.2 Main companies


Valorem

Comercio (Retail)Media and

Entertainment

Retail

Other

Non-controlling

Hospitality

Transportation

Environmental Services



TransporteRetail

2.266

706

277

277

3.675

Sales per company 2020 (weighted per share)Figures in millions of dollars USD

Source: Valorem analysis

78% 11% 6% 1% 1% 0% 0%2%

4.429

603

315

5.650

1%

*Rounded figures



138

70

17

301

EBITDA per company 2020 (weighted per share)

72


57% 42% 31% 2% 1%

Figures in millions of dollars USD

-5%0% -4% -12% -12%

*Zinea is a company that emerges from the spin-off of Caracol TV in December 2019*Rounded figures



1.259

706 370

17

365

226

301

Assets per company 2020 (weighted per share)

4322.787


36% 23% 16% 10% 5% 5% 4%

Figures in millions of dollars USD

1% 0%

*Zinea is a company that emerges from the spin-off of Caracol TV in December 2019*Rounded figures


Caracol TelevisiónRelevant Data

Market Share 2020

1969Year of creation

Employees 1.778

Total day rating from Monday to Sunday (2020)

31.8%

Source: Kantar Ibope Media 2020Source:*Accoriding to “Estudio Continuo de Audiencia Radial”, ECAR 2020

Tv por cable

41.2%Caracol T.V.

31.8%

RCN

17.1%

Canales Regionales

5.5%

Canal Uno

4.2%

• Caracol Televisión is the private television channel with highest rating in Colombia and one of the world’s largest distributor of Spanish content

• In 2020, of the 20 most watched television programs in Colombia, 16 were produced by Caracol Televisión. Pasión de Gavilanes” was the most seen tv show in the country. Additionally, on March 6th, 2021, the film inspired by the book by the Colombian writer Héctor Abad Faciolince and produced by Caracol Television and Dago Garcia Producciones, “The Forgetfulness We Will Be” received the Goya Award for “Best Ibero-American Film”

• It is the number one network for publishing digital content, according to Comscore in Colombia

• Its brands include: BLU Radio, the third most listened to FM station in the country, Caracol Noticias, Caracol Play and Gol Caracol and La Kalle music brand that is the second most listened to music station in the country.


Financial Summary

Figures in millions of dollars* Valorem management calculations, Pro forma EBITDA taking operating income and expenses

AssetsNet Profit

Operating Income Ebitda*

2019 2020 2019 2020

20192019 202020202018

2018 2018

2018


El Espectador

Relevant Data

Market Share 2020

1887

447

+12.500.000

Year of creation

Employees

Website users x month

@elespectadorcom

El Espectador

@elespectador

@elespectador

Source:EGM OLA 2020 – 3. Does not include popular and free press

+ 4.800.000 + 1.500.000

+5.400.000+510.000

El Tiempo51%

El Espectador13%

El Colombiano11%

El Heraldo6%

El País8%

El Universal3%

Portafolio2%

Liberal 4%

• El Espectador is the oldest newspaper in the country

• Under the direction of Fidel Cano, it is considered one of the most serious and

professional newspapers because off its independence, credibility and

objectivity

• Based on its experience and track record, it has led a digital transformation with

new formats and platforms targeted to new audiences

• It was the first media in Colombia to commercialize its contents through on-line

subscriptions

• It is a leader in the dissemination of socially inclusive and responsible content

(La Pulla and Las Igualadas), the promotion and care of the environment (Human

well-being and biodiversity BIBO), and promoters of peace, the fight against

corruption, justice and solid institutions ( promotion of peace, through content

from Colombia 2020 and Colombia in Transition).


Net Profit

Ebitda*

2019 2020 2019 2020

2019 20202019 20202018

2018

2018

2018

Financial Summary


Assets

Operating Income


Cine ColombiaRelevant Data

Market Share 2020


Employees 866

Multiplex 46

Source: Cadbox

Cine Colombia

42.38%

Royal

17.08%

Cinemark

16.98%

Procinal Bogotá

3.89%

Procinal

Medellin

5.68%

Cinépolis

6.14%

Cineland 2.06%

Otros

5.79%

• Cine Colombia is the largest film exhibitor and distributor in Colombia

• It has the only alternative content division in the country, with exhibitions from the MET of NY, the Bolshoi Ballet and the London Theater, among others

• In 2019, the company reached the largest number of spectators in its history: 30.7 million. In March 2020, due to the Covid-19 pandemic, Cine Colombia had to close its theaters

• However, it opened new business lines, such as Cineco Plus, Drive-in theater and home service for the confectionery products.

• As part of its corporate social responsibility program, “Ruta 90”, has crossed the country, taking the cinema experience to more than 390.000 spectators in 493 municipalities of Colombia. During the pandemic, “Ruta 90” supported the delivery of groceries to vulnerable populations.


Financial Summary

AssetsNet Profit

Ebitda*

2019 20202019 2020

2019 20202019 2020

2018

2018

2018

2018


Operating Income


D1

• D1 was the first hard discount retailer in Colombia and maintains the leadership in the hard discount model. It had a FMCG basket share of 17% in Colombia at the end of 2020, according to data from Kantar Worldpanel

• It offers high quality products at low prices, with limited SKUs and a significant number of own brand products

• D1 promotes development of its employees, gender equality, and inclusion

• The operation aims to mitigate its environmental impact and raise awareness among its consumers

Relevant Data

Market Share 2020


Employees 14.089

Stores 1.600

Source: Consumer insights nov 2020 Kantar Worldpanel

FMCG: fast-moving consumer goods SKU: stock-keeping unit

Tiendas D1 43.9%

Olímpica 12.9%

Cencosud 6.2%

Éxito 11.9%

Dollar City 0.3%Ara 12.7%

J&B12.1%


Financial Summary

AssetsNet Profit


2019 2020 2019 2020

2019 2020 2019 2020

2018

2018

2018

2018



Ditransa

• Ditransa is a transport company, catering to serve cargo generating companies

• It is recognized for its innovations in logistics management, with offices in 15 cities in Colombia and presence in Ecuador

• Ditransa has the following business units: national cargo, imports, exports, international and last mile services. By 2021, the expansion of the Home D business unit will begin, which focuses on the delivery of goods to homes.

• It also provides complementary services such as loading and unloading, vehicle escorting, border control documentation and customs support services, among others

• Today, it has its own four alternative fuel vehicles (Natural Gas Vehicles), to contribute to the mitigation of environmental impact.

Relevant Data

Market Share 2020


Employees 229

Others

98.55%

Ditransa

1.45%The market has around 3,541

transportation service companies.

Source: Analisis Ditransa, own calculations


Financial Summary

AssetsNet Profit


2019 2020 2019 2020

2019 20202019 20202018

2018

2018

2018

Figures in millions of dolars* Valorem management calculations, Pro forma EBITDA taking operating income and expenses


RFC Group

Relevant Data

Group Companies RFC


Employees 576

Source: RFC

RFC is a group of investment and operation in sustainable businesses, which groups the following 6 companies:

• Refocosta: plantations, industry, commercialization • Refopanel: panel industry • Refoenergy: alternative energy generation • Refomass: biomass production • Refoser: environmental and forest services • Canal clima: meteorological and environmental services

It stands out for having the FSC (Forest Stewardship Council) Forest Management and Chain of Custody Management certifications; PEFC (Program for the Recognition of Forest Certification Systems); ISO 9001 Quality Management; ISO 14001 Environmental Management, and ISO 45001 Occupational Health and Safety Management.


Financial Summary

AssetsNet Profit


2019 2020 2019 2020

2019 20202019 2020

2018 2018

20182018



San Francisco Investments

• The San Francisco project is a large-scale real estate development project in the Getsemaní neighborhood in the historic center of Cartagena

• The project has an approved Special Management and Protection Plan issued by the Ministry of Culture. The buildings of Club Cartagena and Convento de San Francisco were established as Properties of Cultural Interest at the National Level

• The project will highlight the properties Club Cartagena, Casa Ambrad, Casa García, Cartagena Calamarí, Rialto and Bucanero Theaters, Puerta del Sol, Morales Hermanos Buildings, and San Francisco convent. The properties Club Cartagena and Convento de San Francisco were designated as Cultural Interest Assets of the National order (BICN), by the Ministry of Culture

• The National Council for Cultural Heritage (CNPC) endorsed the postulation of “ Life in the Neighborhood of Getsemaní, Catagena de Indias” as a national cultural heritage

Relevant Data

Fourth trimester 2022Approximate

Opening date

Project Stage Construction

Employees

Source: San Francisco Investments

@sanfranciscogetsemani

26


Gases del CaribeRelevant Data


Employees 373

Formal Indirect Employees (Contractors) > 1.800

Number of clients +1.054.000

Operations 2020

Note: Valorem owns 20% of the company

MagdalenaAtlántico

Bolivar

Cesar

• The Company distributes and commercializes natural gas as a clean energy source

• Its main headquarters are in Barranquilla and it has coverage in the Colombian Atlantic Coast in the departments of Atlántico, Magdalena, Cesar and Bolivar

• The company has implemented the use of natural gas as vehicular fuel with more than 20,000 users in the cities and municipalities where it operates, including mass transportation and heavy-load transportation

• The Brilla program of Gases del Caribe provides financing for construction materials, household electrical and gas appliances, furniture, computers, cell phones, college enrollment, school supplies, motorcycles, and many other products and services that improve the quality of life of consumers of socio-economic levels 1,2 and 3


Financial Summary

AssetsNet Profit


2019 2020 20202019

202020192019 2020

2018

2018

2018

2018



3. Valorem’s Team

3.1 Organizational Chart


Organizational chart

CEOCarlos Arturo Londoño

Board of directors

VP Planning and Development

of New BusinessesLuis Felipe Arrubla

VP Legal

Carlos Rave

VP Financial and

Administrative

Alejandro Arboleda

VP Corporate

Affairs Sergio Uribe

Portfolio Management Legal Management Accounting Management

Corporate Talent Management

Corporate Technology Information

Management

SAP Manager

Corporate Sustainability Management

Documents

Grupo Valorem